The KuCoin Token (KCS), KuCoin’s native token, has surged by 14.28%, surpassing the $10 resistance and hitting a 52-week high. With increasing trading volume and the influence of a bull market, KCS is showing strong upward momentum, targeting levels above $11.77 according to technical analyses. This recent crypto market recovery, along with KCS’s growing liquidity, continues to attract investor attention.
KuCoin Token’s Bullish Rally and Technical Overview
KuCoin, one of the largest crypto exchanges globally, is making headlines again amidst a bullish crypto trend. Ranking as the 10th largest exchange in terms of traffic, liquidity, and trading volume on CoinMarketCap, KuCoin has seen its trading volume surpass $1 billion, signaling a strong recovery. The recent rise in KCS has drawn significant interest from investors.
KCS has climbed 3.6% to $10.30, catching the attention of the market. Current data shows KCS trading between $9.86 and $10.31 over the past 24 hours, with a market cap of $1.237 billion and 24-hour trading volume reaching $1.34 million. The circulating supply is listed at 120,257,114 KCS, out of a total supply of 142,757,114. These metrics underline KCS’s strength in liquidity and its rising value driven by high investor interest.
Over the past week, KCS has gained 14.28%, crossing the psychological $10 barrier and reaching its highest point in a year. Weekly charts show KCS steadily climbing a support trend line, with an impressive 36% gain over the past six weeks from a rebound at the 38.20% Fibonacci level at $7.44. The rally has pushed through the 50% Fibonacci level at $9.36 and the 50-day EMA, setting a bullish trend change with a rounded bottom formation.
Long-Term Targets and Technical Indicators
If KCS surpasses the $11.77 mark, it could reach a new 52-week high of $16.31 by December 2024. Future targets, based on Fibonacci extensions, show potential levels of $24.71 and an all-time high of $29.28. In a more extended bull scenario, 1.272 and 1.618 Fibonacci extensions indicate ambitious targets at $41.89 and $81.99, respectively.
Indicators to Watch
The weekly MACD indicator continues to show bullish signals with increasing histograms, which previously indicated an uptrend in October 2023 and supported the bull market in early 2024. A possible golden cross could occur as the 50-week and 200-week SMAs converge, signaling a strong long-term bullish outlook.
Can KCS Reach $15?
With Fibonacci retracement levels pointing to further upward potential, KCS could be on track for new highs, possibly reaching 52-week targets of $24.71 or even surpassing the previous all-time high of $29.28. If it breaks these levels, the price could expand toward $41.89 or even $81.99 in the long run.
The strong performance of KCS and KuCoin’s increasing trading volume keep drawing investor interest. As the crypto bull rally continues, KCS could reach even higher levels, signaling a potential for further gains ahead.
